Pharmaceuticals - BRICS

BRICS

The projected revenue for the Pharmaceuticals market in 2024 is expected to reach a staggering US$161.30bn.
Within this market, the largest market is Oncology Drugs, which is projected to have a market volume of US$28.15bn in 2024.
Looking ahead, the revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 5.53%, leading to a market volume of US$211.10bn by 2029.
In terms of global comparison, United States is expected to generate the highest revenue, with a projected amount of US$630.30bn in 2024.
It is worth noting that the BRICS countries, including Brazil, Russia, India, China, and South_Africa, play a significant role in the Pharmaceuticals market.
In Brazil, the pharmaceutical market is experiencing a rise in demand for generic drugs due to their affordability and accessibility.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Pharmaceuticals in BRICS is increasing due to various factors such as population growth, urbanization, and rising income levels.

Customer preferences: In Brazil, there is a growing demand for generic drugs due to their affordability, and the government's efforts to promote their use. Russia is seeing a shift towards natural and herbal remedies, while in India, traditional medicine is still popular. China is experiencing a rise in demand for high-end pharmaceuticals due to an aging population and increasing disposable income. South Africa is seeing a growing demand for chronic disease medication due to the high prevalence of diseases such as HIV/AIDS and tuberculosis.

Trends in the market: In Brazil, the pharmaceutical market is expected to grow due to an aging population and higher healthcare spending. Russia is experiencing a shift towards locally produced drugs, and the government is investing in the development of the domestic pharmaceutical industry. India is becoming a hub for contract manufacturing and research due to its low-cost advantage. China is expected to become the world's second-largest pharmaceutical market, driven by an aging population and increasing healthcare spending. South Africa is seeing a growing demand for generic drugs due to their affordability.

Local special circumstances: Brazil has a complex regulatory environment that can make it difficult for foreign companies to enter the market. Russia has a high level of bureaucracy and corruption, which can make it challenging for foreign companies to do business. India has a large population and a fragmented market, which can make it difficult for companies to achieve economies of scale. China has a complex regulatory environment and intellectual property rights issues that can make it challenging for foreign companies to enter the market. South Africa has a high burden of disease and a large uninsured population, which can make it challenging for companies to sell high-priced drugs.

Underlying macroeconomic factors: The BRICS countries are experiencing economic growth, which is driving demand for healthcare services. Rising incomes and urbanization are also contributing to the growth in demand for pharmaceuticals. However, each country has its own unique challenges, such as regulatory issues, corruption, and high disease burden, which can impact the growth of the pharmaceutical market. Overall, the BRICS countries present significant opportunities for pharmaceutical companies due to their large populations and growing economies.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.